If what you're saying is true, democracy is worthless. Decreasing the amplitude of political discourse would have no effect on the ignorance of the general population and their lack of skepticism and poor decision making. It would just create a new game of regulations that rich individuals could play around and avoid to get the result they want anyway.

It is not an uncommon belief that laws like BCRA were designed to entrench incumbents.

"The history of campaign finance reform is the history of incumbent politicians seeking to muzzle speakers, any speakers, particularly those who might publicly criticize them and their legislation. It is a lot easier to legislate against unions, gun owners, 'fat cat' bankers, health insurance companies and any other industry or 'special interest' group when they can't talk back." Jan Baran, a member of the Commission on Federal Ethics Law Reform